Wednesday, May 6, 2020

The Ethics Of Medical Expenses - 1861 Words

It is common for individuals in the United States to deduct surgeries as medical expense. Whether they claim the surgery to be a legitimate medical condition that needs to be treated or in some cases professionals will deduct their surgery as business expense. Profession is defined as a paid occupation that is involved in training and formal qualification. It is the skills that he or she has that are engaged in a specific activity, as the individual is using the skill to be competent in performing the activity. According to  ¶ 1506 of the Federal Tax Handbook it explains that business expense is when â€Å"Individuals, corporations and other taxpayers generally can deduct ordinary and necessary expenses paid or incurred during the tax year in carrying on any trade or business† However, the issue that arises is that the Tax Handbook does not clearly define what requires one to be a business or what the limits are for a individual or business to claim a medical expense to be deductible. It explains in  ¶ K-2400 that medical expenses are paid during the taxable year which are deductible, this is regardless of the event or incident or event which occasioned the expenses occurred and regardless of the method of accounting by the taxpayer. In IRC 213 it explains that deductible medical expenses are paid for the diagnosis cure, mitigation, treatment, or prevention of disease or the purpose of affecting any structure or function of the body. It is the physicians discretion to decideShow MoreRelatedInmates and Organ Transplants: An Ethical Dilemma Essay864 Words   |  4 PagesIn today’s medical field there is a profuse amount of room for ethical questioning concerning any procedure performed by a medical professional. According to the book Law Ethics for Medical Careers, by Karen Judson and Carlene Harrison, ethics is defined as the standards of behavior, developed as a result of one’s concept of right and wrong (Judson, Harrison, 2010). 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